IN BRIEF
Reunion Island, a French overseas region, has a population of 784000 inhabitants and an annual GNP of 44 million euros, making it the country in the southern Indian Ocean with the highest purchasing power per capita. The island has a very young population (56% are under 30) with a high standard of education and training.Reunion Island has extensive port, airport, road and telecommunication infrastructures that meet European standards and that rank it as a major economic player in the region. The local economy includes a primary sector dominated by sugar cane growing, a secondary sector whose main added value is provided by the agrifood industry and a tertiary sector that has become the island’s main employer (administration and commercial department).The primary sector (agriculture and fisheries) accounts for 4% of total added value. Agriculture is dominated by the sugar cane crops which cover half of all arable land. Food crops (local market) or export crops (tropical fruits, vanilla and flowers) which offer high growth potential are also grown. Industrial fisheries has expanded since 1992 with profitable exports of products with high added value to European and Asian markets, The latter sector also offers major growth potential in the years ahead. (Source adreunion) |
| BASIC FACTS ON REUNION ISLAND ECONOMY | |
GDP 2006
(milliards euros) |
11,5 |
Growth rate of GDP (2006) |
5 % |
GDP/inhabitants (2006) |
13,900 euros |
GDP / sector (%) (2004) |
Primary sector: 2% Secondary sector: 24% Tertiary sector: 74% |
Import |
3,912 millions euros (2006) |
Export |
260 millions euros (2006) |
Agricultural products |
Sugar cane, bananas, pineapple, breeding |
Industries |
Building, tourism, fishery, HighTech, education… |
HIGH STANDARD INFRASTRUCTURES
PORT HARBOR: maritime hub in the Indian Ocean |
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2 International AirportsRolland Garros and Pierrefonds More than 1.5 million passengers and 25000 tons of freightMore than 20 direct flights to Europe every week Regular connexion flights to the Indian Ocean zone: South Africa, Kenya, Madagascar, Mauritius, Mayotte, Comoros, Seychelles, Thailand and soon Australia |
TELECOMMUNICATIONS Satellite liaison (Eutelsat W2) |
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TRANSPORTATION Tamarin Road (34km highway 2x2, 120 bridges, viaduct, 3 tunnels) |
ECONOMIC DEVELOPMENT STRATEGY
The objective is to operate a strategic change by opening Reunion economy to new markets and ways of development based on our unique assets of European Region in the Indian Ocean- By opening new markets for Reunion within its regional environment and by promoting co development- Reunion Regional Council signed cooperation agreement with 17 countries of its regional environment as well as for multilateral cooperation (COI, COMESA…). This co development is active in different sectors: economy, culture, education, sports… |
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- Attract Foreign Direct Investment particularly from China and India by offering them the possibility of a European Label
- Access European market of 380 millions consumers and invest in a free trade zone
- Welcome
1 million tourists by 2020 with Reunion unique assets and eco tourism
(volcano, biodiversity, national park, cultural ethnicity, sea natural welfare,
sightseeing diversity…)
- Open
a new market: the sea, by giving priority to the fishery industry and by
making the island a strategic base for French and European policy in this activity
- Open
the island to new horizon by opening new flights connections specifically to
Asia
- Develop High Tech industry in order to make Reunion a referential platform in the Indian Ocean. By 2010, the objective is to equip the entire territory with high speed capacity- Favor technological innovation, bio technology, position Reunion in the nano technology sector- Open niche market with high added value, such as the “bourbon cocoa” culture and the structuralisation of the market “aromatic and medicinal plants” |
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